100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Adjuster Pro - Insurance Adjuster Test Exam Questions and Answers 100% Solved $10.99
Add to cart

Exam (elaborations)

Adjuster Pro - Insurance Adjuster Test Exam Questions and Answers 100% Solved

 2 views  0 purchase

Adjuster Pro - Insurance Adjuster Test Exam Questions and Answers 100% Solved What is insurance? - protection against financial loss what is a premium - a scheduled amount to be paid for an insurance policy. What are premiums used for - premiums are collected into a "pool" or "reserve to ...

[Show more]

Preview 3 out of 24  pages

  • December 30, 2024
  • 24
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
All documents for this subject (280)
avatar-seller
NinjaNerd
Adjuster Pro - Insurance Adjuster Test

Exam Questions and Answers 100%

Solved


What is insurance? - ✔✔protection against financial loss

what is a premium - ✔✔a scheduled amount to be paid for an insurance

policy.

What are premiums used for - ✔✔premiums are collected into a "pool" or

"reserve to pay out claimants when needed.

how can insurance companies afford to pay for an individuals catastrophic

loss? - ✔✔the insurer collects premiums from all policy holders and uses

them to pay out the claims of a few.

what is Indemnity - ✔✔payment for damages, that is not more or less than

the amount caused by the damage.

principle of idemnity - ✔✔insurance will pay no more or less than the actual

financial loss suffered

indemnification may also include - ✔✔repairs to property

1
©NINJANERD 2025/2026. YEAR PUBLISHED 2025.

,reimbursement for additional living expenses

rental cars and hotels

costs directly associated with a loss

4 Parts of Legal Contract - ✔✔1. Agreement

2. Consideration

3. Competent Parties

4. Legal Purpose

legal contract - agreement - ✔✔mutual intent by offeror and offeree

six special characteristics of insurance contracts - ✔✔1. Personal

2. adhesion

3. utmost good faith

4. aleatory

5. unilateral

6. conditional

what kind of contract is an insurance policy? - ✔✔Personal contract

what is a contract of adhesion - ✔✔the insured must accept the entire

contract with all of its terms and conditions

Utmost Good Faith - ✔✔An obligation to act in complete honesty and to

disclose all relevant facts.


2
©NINJANERD 2025/2026. YEAR PUBLISHED 2025.

, Aleatory Contract - ✔✔a contract where the values exchanged may not be

equal but depend on an uncertain event

Unilateral Contract - ✔✔insurance agrees that they must pay in event of a

claim. the insured can stop paying premiums at any point.

only the insurer has promised to perform an action.

Conditional Contract - ✔✔A type of an agreement in which both parties

must perform certain duties and follow rules of conduct to make the

contract enforceable.

Acronym for the four sections of an Insurance policy - ✔✔DICE

D - declarations page

I - Insuring Agreement

C- Conditions

E - Exclusions

Decelerations section - ✔✔Always the first section - establishes the

following

Names of both parties

Policy number

Location and description of insured item

Dates of the policy


3
©NINJANERD 2025/2026. YEAR PUBLISHED 2025.

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller NinjaNerd. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $10.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

48756 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 15 years now

Start selling
$10.99
  • (0)
Add to cart
Added